Juvia’s Strategic Pivot-a Testament to Miami’s Flourishing Landscape

In the dynamic world of investment, adaptability is paramount. Similarly, in the realm of Miami’s culinary scene, Juvia, the illustrious rooftop restaurant and bar that once held sway over Lincoln Road’s nightlife, has demonstrated this principle. After an impressive 11-year run in Miami Beach, Juvia is set to transition to the Miami Worldcenter—a staggering $6 billion, 27-acre development poised at the epicenter of downtown.

Jonas Millán, the visionary behind Juvia Group alongside his partner Alexandra, remarked on the city’s transformation, “Over the past decade, Miami has transcended its identity as merely a beach destination. Its metamorphosis into a burgeoning metropolis necessitated our evolution.” After meticulous scouting, the Miami Worldcenter emerged as the unequivocal choice for Juvia’s next chapter. Millán envisions the new establishment, slated for a late 2024 launch, to surpass its predecessor in grandeur, boasting expansive outdoor spaces and a more lavish terrace bar.

The Miami Worldcenter, located at 1010 NE Second Ave., is not just a real estate marvel but a culinary hub. It already houses three ventures from the esteemed Chef Michael Beltran’s Ariete Hospitality Group. Furthermore, 2024 will witness the inauguration of several more dining establishments, including New York’s Serafina and Dallas’s Sixty Vines, among others. Beyond gastronomy, the development is set to feature retail giants like Sephora and Lululemon, as well as avant-garde entertainment venues.

Juvia’s culinary direction remains rooted in its legacy—French cuisine infused with Latin nuances. However, with Miami’s dining scene witnessing a renaissance and the city earning Michelin accolades, Millán acknowledges the heightened benchmarks. “The culinary landscape is evolving rapidly. While some perceive market competition as daunting, I view it as a catalyst—an impetus to innovate and elevate our offerings.”

Nitin Motwani, the strategic mind behind Miami Worldcenter Associates, always envisioned Juvia as the crown jewel of the development’s rooftop. Familiar with Millán’s prowess through Bonito St. Barth, Motwani recognized Juvia’s transformative impact on Miami Beach. “Their influence was palpable. Our initial blueprints often echoed the sentiment, ‘Imagine having an establishment akin to Juvia here.’ Their relocation is serendipitous—a confluence of an expiring lease and the allure of what’s poised to become Miami’s nexus.” Motwani envisions the Worldcenter as a tapestry of diverse experiences, with Juvia serving as both a haven for celebratory occasions and a regular dining fixture.

In the high-stakes world of real estate, we understand the significance of strategic shifts and seizing emerging opportunities. Juvia’s transition is emblematic of this ethos—a testament to the vision, adaptability, and promise of Miami’s burgeoning landscape.

South Florida’s Luxury Real Estate Landscape: A Glimpse into the Recent Transactions of Industry Titans

In the ever-evolving world of South Florida’s luxury real estate market, industry leaders from diverse sectors have recently sealed some notable deals. These transactions span the tri-county region, with property values ranging from a commendable $7.8 million to a staggering $10 million.

In the heart of Miami Beach, renowned actor Marjorie O’Neill-Butler parted ways with her cherished waterfront residence, fetching a price of $8.3 million. The new owners of the property at 603 East Dilido Drive on the Venetian Islands are Marcio Pacheco Ferreira and Luciana Augusto Mattoso Ferreira. Pacheco Ferreira is a distinguished partner and senior portfolio manager at Pharo Management, a hedge fund headquartered in New York City. The property, a classic built in 1935, boasts five bedrooms, three bathrooms, two half-bathrooms, and luxurious amenities like a pool and a dock. It was initially listed for $9.5 million last year.

Venturing further into Miami-Dade County, a prominent figure from Disney’s elite circle, Rich Frank, along with Leslie Frank, invested $8.7 million in a condo situated at Estates at Acqualina. Rich Frank’s illustrious career includes his tenure as president of Disney Studios and later as chairman of Walt Disney Television and Telecommunications. The couple’s current venture is the acclaimed Frank Family Vineyards in Napa. This property has also seen other high-profile transactions, including those by a dairy magnate and a jeweler.

Lastly, in the exclusive Admirals Cove community in Jupiter, financiers Tim Garry and Amanda Link sold their waterfront residence for a cool $10 million. The property, now under the ownership of the CKMH Family Trust, is a modern marvel built in 2020. Garry, a pivotal figure at the New York City-based Senator Investment Group, had initially purchased this property in 2021 for $6.5 million.

These transactions underscore the dynamic nature of South Florida’s luxury real estate market, reflecting the preferences and investment strategies of industry moguls.

NoMad Residences Wynwood Introduces a New Chapter in Luxury Living

In the heart of Miami’s vibrant Wynwood district, a groundbreaking collaboration between the esteemed Related Group and Manhattan’s Tricap has taken shape. Introducing the NoMad Residences Wynwood, a luxurious embodiment of the iconic boutique hotel brand, NoMad Hotels, under the aegis of the Sydell Group.

Situated at the prime location of 2700 Northwest 2nd Avenue, a stone’s throw from the globally recognized Wynwood Walls, this nine-story condominium tower is a testament to modern architectural brilliance. Crafted by the acclaimed South Florida-based Arquitectonica, with interiors by the distinguished DesignAgency, the project is overseen by Beauchamp Construction, with MEP engineering by Johnson, Avedano, Lopez, Rodriguez & Walewski Engineering Group, Inc., and landscape architecture by Naturalficial.

Nick Pérez, President of Related Group’s Condominium Division, remarked, “The NoMad Hotels brand, synonymous with a harmonious blend of art and luxury, is the perfect fit for Wynwood. Drawing parallels with NoMad New York’s transformative impact on Manhattan’s North of Madison district, we envision NoMad Residences Wynwood to be a pivotal chapter in Wynwood’s illustrious narrative.”

The residences, echoing the opulence of the NoMad brand, offer a curated experience of a cosmopolitan, art-infused lifestyle. Comprising 329 units, ranging from cozy studios to spacious two-bedroom apartments, each residence boasts floor-to-ceiling windows, private balconies, open floor plans, and spa-inspired showers. The contemporary kitchens are equipped with top-tier Bosch appliances, Italian cabinetry accentuated with brass fixtures, and polished stone countertops.

Andrew Zobler, Founder & CEO of Sydell Group, emphasized the brand’s ethos, stating, “The NoMad Hotels brand is renowned for its distinctive hotels, deeply influenced by their locales. With NoMad Residences Wynwood, our vision was not just to construct homes but to cultivate a community that resonates with Wynwood’s rich, artistic spirit.”

Residents are treated to a fully furnished living experience, with interiors curated by DesignAgency. A unique proposition of the property is its flexibility in rental options, allowing owners to lease their homes for any duration. An adept in-house property management team ensures seamless operations.

A standout feature of the property is its culinary and beverage offerings. The NoMad Bar, a rooftop restaurant and mixology hub, will be spearheaded by James Beard Award Winner Leo Robitschek. Additionally, the ground floor will house Casa Tua Cucina, setting the gold standard for upscale social dining with its expansive open-kitchen concept.

Residents and guests can indulge in a plethora of resort-style amenities, including a rooftop lounge offering panoramic views of downtown Miami, a serviced pool and sun deck, private cabanas, and state-of-the-art fitness facilities. The signature NoMad Library and Lounge will serve as a communal space, offering curated experiences, shared workspaces, and more.

Art aficionados will appreciate the museum-quality artworks from the Jorge M. Pérez Collection adorning the building, with sections dedicated to artists in homage to Wynwood. The locale boasts over 70 art galleries, luxury boutiques, MICHELIN-star restaurants, and the iconic Wynwood Walls.

David Edelstein, Principal at Tricap, encapsulated the project’s essence, stating, “Wynwood is not just a locality; it’s a dynamic nexus of culture, gastronomy, and opportunity. This venture, in partnership with Related and Sydell Group, heralds the onset of an immersive, hospitality-driven residential experience at the heart of Miami’s renowned art district.”

In a recent accolade, NoMad London, a flagship of the NoMad Hotels brand, secured a position on ‘The World’s 50 Best Hotels’ list for 2023, underscoring Sydell Group’s unwavering dedication to excellence in hospitality and design. This commitment is set to be mirrored in NoMad Residences Wynwood, bringing unparalleled craftsmanship to Miami’s bustling Wynwood district.

Pricing for NoMad Residences Wynwood starts in the $600,000’s. If you or someone you know have an interest in purchasing at NoMad Residences Wynwood, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Waldorf Astoria Residences Miami-A $50 Million Penthouse Epitomizing Luxury and Investment Potential

In the heart of Miami, an architectural masterpiece rises, setting a new benchmark for luxury living and investment opportunities. The Waldorf Astoria Residences Miami, an iconic structure unparalleled in its design, has unveiled its crown jewel: a $50 million penthouse located in its ninth cube. This penthouse doesn’t just offer a residence; it offers a statement, positioning its inhabitants atop the highest residential edifice south of the Big Apple.

This penthouse is more than just a living space; it’s a testament to opulence and strategic investment. Spanning 13,119 square feet, it boasts features that cater to the discerning tastes of hedge fund magnates: a private gym for those early morning workouts, a theatre for private screenings, a wine room showcasing the world’s finest vintages, and a library that can double as a space for strategic meetings. The 360-degree views encompassing Miami Beach, Downtown Miami, and the vast expanse of the Atlantic Ocean are bound to inspire and invigorate its residents.

The penthouse’s design is both lavish and functional, with six spacious bedrooms, nine state-of-the-art bathrooms, and expansive floor-to-ceiling windows that flood the space with natural light. The primary suite is a haven, complete with luxury walk-in closets and Italian-crafted marble-finished vanities. The flexibility to tailor spaces, be it a personal gym or a contemporary kitchen, adds a personal touch, ensuring that each resident’s unique needs are met. The renowned design firm, BAMO, has lent its expertise to the interiors, ensuring that every inch exudes sophistication.

The Waldorf Astoria Residences Miami itself is a marvel, with its nine offset glass cubes enveloped in a shimmering “glass skin.” This 1,049-foot tower will house 360 private residences, alongside 205 guestrooms and suites that form part of the luxury hotel. The hotel’s signature spaces, private amenities, and the renowned Peacock Alley of the Waldorf Astoria brand are all housed within the first three cubes. The visionary design was a collaborative effort between Sieger Suarez Architects and the illustrious architect Carlos Ott.

For those who seek exclusivity, the tower offers a plethora of amenities. From a resort-style pool deck, holistic wellness spa, and a state-of-the-art fitness center to an owners-only lobby and bar, every detail has been meticulously curated. The integration of the latest smart home technology via a dedicated mobile app ensures that residents have access to a myriad of services at their fingertips, from spa reservations to dog walking services.

Hilton Management Services, known for its commitment to unparalleled service, will manage the Waldorf Astoria Residences Miami. This ensures that both residents and visitors experience the epitome of luxury and world-class experiences.

If you or someone you know have an interest in purchasing at Waldorf Astoria Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Strategic Real Estate Moves: Boucher Brothers Clinch Nikki Beach in a Tense Miami Beach Vote

In the high-stakes world of real estate, where every decision can ripple through the financial markets, the Boucher Brothers have made a significant play. On September 27th, 2023, amidst the towering skyscrapers and the azure backdrop of Miami Beach, the City Commission convened. The agenda? The future of the coveted oceanfront property at 1 Ocean Drive, Miami Beach, Florida.

The Boucher Brothers, no strangers to the Miami Beach landscape, were vying for the Nikki Beach site. Their ambition was met with intense scrutiny and debate, echoing the boardrooms of Wall Street. The decision was not an easy one. City Manager Alina Hudak had put forth a recommendation, and after what can only be described as a nail-biting session, it was approved in a 4-3 vote.

Lending their support to the Boucher Brothers were Mayor Dan Gelber and Commissioners Ricky Arriola, David Richardson, and Kristen Rosen Gonzalez. On the other side of the aisle, Alex Fernandez, Steven Meiner, and Laura Dominguez voiced their reservations. Their concerns? Primarily procedural, with some pointing to earlier discussions around a no-bid agreement and advocating for a delay in the vote to allow for more public consultation.

For the hedge fund managers reading this, the intricacies of the deal are where things get interesting. The Boucher Brothers’ proposal is a 10-year commitment, promising the city a yearly contribution of 10% of gross operating revenue. In tangible terms, that’s a minimum of $4 million annually, with a 3% increment each year. The property itself is set to undergo a transformation, with a proposed $26 million in renovations. The vision includes a state-of-the-art pool, a wellness center and spa, a dedicated area for children, and a beach concession zone. Culinary enthusiasts will be pleased to hear of a collaboration with Major Food Group, bringing a Sadelle’s restaurant to the location.

However, the road to this decision was far from smooth. Legal challenges and intense negotiations marked every step. Earlier in the year, the City Commission had considered a non-binding term sheet with Boucher, hinting at a potential no-bid agreement. But in the face of significant criticism, they pivoted, seeking alternative proposals for the land and its adjacent beach area.

For those in the financial world, this move by the Boucher Brothers is more than just a real estate acquisition; it’s a testament to strategic planning, negotiation, and the ability to navigate complex landscapes. As the ink dries on this deal, one can’t help but wonder what ripple effects this will have on the broader investment landscape.

MG Developers Break Ground on the Village at Coral Gables

The Village at Coral Gables is a highly anticipated residential development that just broke ground. The development pays homage to the aesthetic beauty and way of life of Seville, Spain, and carries on the legacy of the dreamer and founder of Coral Gables, George Merrick, and his vision.

This unique enclave’s construction was officially launched on Saturday, September 16th during the groundbreaking ceremony at 504 Malaga Avenue. More than 600 distinguished guests attended the event, including Coral Gables Mayor Vince Lago, Coral Gables Chamber of Commerce President Mark Trowbridge, the project’s exclusive sales partner, One Sotheby’s International Realty’s Founder and CEO Mayi de la Vega, and President Daniel de la Vega, as well as local buyers and residents.

After the groundbreaking ceremony, visitors were treated to a memorable experience at the appropriately called “The Village Harvest Festival.” Families and neighborhood residents gathered for the celebration of the fall season and the opening of The Village at Coral Gables from 10:00 a.m. to 2:00 p.m. The event included a farmer’s market with regional artisans and entertaining carnival games like face painting and bounce houses.

The 17 parcels that make up The Village at Coral Gables will be surrounded by Segovia Street, Hernando Street, Santander Avenue, and Malaga Avenue. From chic two-bedroom flats with a study area and a balcony to attractive four-bedroom townhomes that range in size from 1,750 square feet to 3,100 square feet, the townhomes, lofts, villas, and flats will vary in style and size. The Village at Coral Gables, created by De La Guardia Victoria Architects & Urbanists, will be developed in a Mediterranean Revival-Style Architecture, including gardens, courtyards, and fountains inspired by the alcoves in the Plaza de Espaa, and be modeled after Merrick’s seven communities.

A wellness clubhouse, indoor and outdoor terrace lounges, a workout wing, a plunge pool, a library, a conference center, and high-speed Wi-Fi are just a few of the recreational amenities available to residents. These amenities redefine modern living in the historic Coral Gables neighborhood. The Village at Coral Gables provides residents with the best of South Florida life because it is located close to Downtown Coral Gables, golf courses, the Lowe’s Hotel, the Biltmore Hotel, cultural attractions, and renowned culinary establishments.

Construction is expected to be completed by 2024. If you or someone you know have an interest in purchasing at the Village of Coral Gables, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Norman Foster’s Biophlic South Beach Office Building Project Approved by the Planning Board of Miami Beach

The proposed Alton Road office project in South Beach by developer Shvo was approved by the Planning Board of Miami Beach.

The project is being designed by Pritzker Prize winner Lord Norman Foster and the crew at Foster + Partners using a biophilic approach that was influenced by Florida’s climate and vegetation. Foster and Kobi Karp Architects are listed as the architects involved in the design.

‘The Alton’ and will rise 6 stories with 170,000 rentable square feet, 17,000 square feet of ground floor retail, and 4 luxury residential units.

The hearing before the Design Review Board will take place in October. The Alton’s construction is anticipated to start in early 2024, assuming it is permitted.

Shvo is working with Foster and architect Peter Marino on three Class-A office buildings in Miami Beach, including The Alton, that have a combined square footage of about 400,000. Together with Deutsche Finance America, the developer is committing nearly $2 billion to Miami Beach.

Monarch Alternative Capital Buys 801 Brickell Office Tower for $250 Million

The 801 Brickell office tower in Miami is being purchased by Monarch Alternative Capital and Tourmaline Capital Partners for roughly $250 million.

This 28-story building is anticipated to close in the next week. According to property records, the building was finished in 1984 and has a total square footage of 695,000 square feet, 415,000 of which are offices. The building was purchased in 2002 for $80.3 million by Nuveen, the financial division of the Teachers Insurance and Annuity Association of America, or TIAA. Over 90% of units at 801 Brickell are leased.

Among the tenants are the bank Cassel Salpeter, the investment business Selvatra, and Swiss Re AGroup. The 7,000 square foot office will be opened in the fourth quarter by BNP Paribas Securities Corporation, a division of the European bank BNP Paribas. Komodo, a restaurant owned by Groot Hospitality, has a location at 801 Brickell as well.

Approximately 60% of the purchase price is being financed by 801 Brickell’s buyers.

Apollo Capital Management, Canadian asset management CI Financial, and private equity company Thoma Bravo are three financial institutions that have recently leased space in Brickell. Also relocating from Chicago to Brickell is billionaire Ken Griffin’s Citadel and Citadel Securities.

Since Griffin’s $286.5 million purchase of the structure at 1221 Brickell Avenue in the summer of last year, Monarch and Tourmaline’s acquisition is the largest office transaction in South Florida.

With some asking rentals over $100 per square foot, the number of tenants has driven Brickell rents to all-time highs. The 801 Brickell acquisition is partially a bet on rental growth at the tower because, according to sources, new leases are signing for over $100 per foot, which is significantly more than the rates for existing leases.

According to its website, Tourmaline is an office investment company created in 2021 that has made $3 billion in deals and has 1.4 million square feet under construction. Brandon Huffman is in charge of it.

The Citigroup Center in downtown Miami, located at 201 South Biscayne Boulevard, is likewise a property owned by Monarch and Tourmaline. The 34-story tower also has CP Group, formerly known as Crocker Partners, is listed as a co-owner.

New Tower Announced in Brickell- Calle 8

A new tower with a unique design was just announced in Brickell. The pre-application has just been submitted to Miami-Dade planners for the project Calle 8. Millennium Developments of Brickell, LLC is mentioned as the developer for this development.

The application states 464 residential units with studio to 3 bedroom floor plans with 1 penthouse available.

Floor Plan Availability:

• 252- studios
• 37- one bedrooms
• 167- two bedrooms
• 7- three bedrooms
• 1 penthouse

The plans also show a multi-level retail space as well as 467 parking spaces available on 11 levels. The Federal Aviation Administration approved a tower height of 685 feet above ground level or 699 feet above sea level in a letter that was published in May 2023. A gas station is currently on the property. Calle 8 will be designed by BMA Architects of Miami.